One of the most bullish trends in the economy right now (of which there seem to be fewer and fewer) is in housing, where there are signs of a price bottoming, and real traction on the construction front.
To wit, we’re excited to see today’s housing starts number.
Remember, yesterday the NAHB reported a lights-out homebuilder sentiment number. The index saw its biggest jump in a decade.
Homebuilders stocks have been on a roll since last fall.
So today we get housing starts for June. Analysts expect 745K annualized, up from 709K last month (per Calculated Risk).
If we hit the number, we’ll still be about 2/3rds off from the pre-crisis peak.
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